Brazilian judge overturns Embraer-Boeing Deal on solicitor General request

A Brazilian judge overturned a previous ruling, Dec 21, that suspended the Embraer-Boeing deal, in response to a request from Brazil’s solicitor General, as the previous injunction would hurt the emerging Brazilian economy. A Brazilian court suspended a ruling, that previously had suspended the sale earlier this week. The Brazilian judge’s decision came as a response to a request from Brazil’s solicitor General. The proposed agreement required an approval from the Brazilian govt, as it was holding a so-called golden share in Embraer, which gave the govt a veto power over the strategic decisions and any alternations regarding controlling interest. The proposed sale of 80% of Embraer to Boeing is expected to happen within next 30 days. <br/>